The Passover was metaphor. It was foreshadowing. It is realized on the Cross and at the Altar.
Baptists and Protestants obviously gain some blessing by being sincere and by being gathered in His Name.
But no, there is no transsubstantiation going on and there is no ordinary, sacramental transmission of grace.
So God's grace is attained through human action.
Chapter and verse?
I, OTOH, believe that God does not apportion His grace only to those who perform certain actions. On the contrary, God's grace is LAVISHED on us. It is a gift, freely given to the believer. Since God dwells in us, He deposits it right in our hearts freely and lavishly.
Ephesians 1:3-10 Blessed be the God and Father of our Lord Jesus Christ, who has blessed us in Christ with every spiritual blessing in the heavenly places, even as he chose us in him before the foundation of the world, that we should be holy and blameless before him. In love he predestined us for adoption as sons through Jesus Christ, according to the purpose of his will, to the praise of his glorious grace, with which he has blessed us in the Beloved. In him we have redemption through his blood, the forgiveness of our trespasses, according to the riches of his grace, which he lavished upon us, in all wisdom and insight making known to us the mystery of his will, according to his purpose, which he set forth in Christ as a plan for the fullness of time, to unite all things in him, things in heaven and things on earth.
Romans 3:21-25 But now the righteousness of God has been manifested apart from the law, although the Law and the Prophets bear witness to it— the righteousness of God through faith in Jesus Christ for all who believe. For there is no distinction: for all have sinned and fall short of the glory of God, and are justified by his grace as a gift, through the redemption that is in Christ Jesus, whom God put forward as a propitiation by his blood, to be received by faith.
Romans 5:1-2 Therefore, since we have been justified by faith, we have peace with God through our Lord Jesus Christ. Through him we have also obtained access by faith into this grace in which we stand, and we rejoice in hope of the glory of God.
Romans 11:5-6 So too at the present time there is a remnant, chosen by grace. But if it is by grace, it is no longer on the basis of works; otherwise grace would no longer be grace.
Galatians 5:4 You are severed from Christ, you who would be justified by the law; you have fallen away from grace.
Hebrews 4:16 Let us then with confidence draw near to the throne of grace, that we may receive mercy and find grace to help in time of need.
James 4:6 But he gives more grace. Therefore it says, “God opposes the proud, but gives grace to the humble.”
There is not one place in the entire NT where we are told that grace is conferred to us through sacraments.
Here is a link to a keyword search of the NT on the word *grace*.
If you don't beleive me, you can research it yourself.
http://www.biblegateway.com/keyword/?search=+grace&version1=ESV&searchtype=all&bookset=2